Biocon Ltd. v. DCIT

35 Taxmann.com 335Income Tax Appellate Tribunal2013#240 most cited

What is Biocon Ltd. v. DCIT authority for?

The discount arising from the grant of Employee Stock Option Plans (ESOPs) is an allowable business expenditure under Section 37(1) of the Income-tax Act, 1961, as it is an ascertained liability, not a contingent one, and constitutes a revenue expense rather than a capital expense.

322

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2026.

Also referred to as

Biocon Ltd. v. DCIT · ESOP discount deduction · Employee Stock Option Plan expenditure · Section 37(1) deduction · business expenditure · revenue expenditure · contingent liability · capital expenditure · ITAT Special Bench · 144 ITD 21

Also reported as

144 ITD 21155 TTJ 64925 ITR (Trib) 602

Sections most often in play

Section 37(1)Section 143(3)Section 14ASection 37Section 40A(2)(b)Section 115JBSection 8DSection 144B

Issues it is cited on

section 2(15a)section 17(2)(iiia)section 50(1)section 17(2)section 80absection 54esection 80msection 10(15)section 10(33)section 14a(1)section 36(1)(viii)section 54ec

Judgments citing Biocon Ltd. v. DCIT

Procter & Gamble Hygiene and Health Care Limited, Mumbai vs. DCIT-2(3)(1), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 3518/MUM/2025[2015-16]Status: DisposedITAT Mumbai31 Jul 2025AY 2015-16

Bench: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 147Section 148Section 192Section 37(1)

…lly and exclusively for business purposes to incentivise, retain, and reward key personnel, and are squarely covered by the doctrine of commercial expediency. 18. Strong reliance was placed on the decision of the Hon’ble Special Bench in Biocon Ltd. v. DCIT (144 ITD 21) (Bang), affirmed by the Hon’ble Karnataka High Court in CIT v. Biocon Ltd. [2020] 121 taxmann.com 351, which categorically held that ESOP discounts form part of employee remuneration and are deductible under section 37(1) of the Act. 19. The ld. DR supported the orders of the ld. AO and the ld. CIT(A), contending that the disallowance was justif…

Hdfc Bank Ltd (Successor to Hdfc Ltd), Mumbai vs. DCIT-2(3)(1), Mumbai

In the result, the appeal of the assessee bearing ITA No

ITA 1828/MUM/2025[2021-22]Status: DisposedITAT Mumbai18 Jul 2025AY 2021-22

Bench: Shri Anikesh Banerjee & Smt. Renu Jauhrihdfc Bank Limited Vs The Deputy Commissioner Of (As Successor To Housing Income-Tax-2(3)(1), Mumbai Development Corporation Room No.552, Aaykar Bhavan Finance Limited), M.K. Road, Mumbai-400 020 Hdfc Bank House, Corporate Tax Department, Senapati Bapat Marg, Lower Parel, Mumbai-400013 Pan: Aaach2702H Applicant Respondent

For Appellant: Shri J.D. MistriFor Respondent: Shri Ritesh Mishra, CIT DR
Section 139(1)Section 143(1)Section 250Section 37(1)

…ore the ld. Assessing Officer. 28.3. This issue is no longer res integra as has been dealt by Co-ordinate Bench in the case of HDFC Bank Ltd. (supra) with similar view taken by Hon'ble Special Bench, ITAT, Bangalore in the case of Biocon Ltd., vs. DCIT [2013] 144 ITD 21 (Bang)(SB), the same having been approved by Hon'ble Court of Karnataka reported in CIT vs. Biocon Ltd. [2021] 430 ITR 151 (Kar). 28.4. Considering the facts on record and the judicial precedents relied upon, claim made by the assessee by way of additional ground is allowed in respect of Assessment Year 2013-14. However, based on our reasoning giv…

DCIT-2(3)(1), Mumbai vs. Indusind Bank Ltd., Mumbai

In the result, the Income Tax Appeal is

ITA 3675/MUM/2023[2018-19]Status: DisposedITAT Mumbai17 Jul 2025AY 2018-19

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Kalpexh Unadkat &For Respondent: Shri Satya Pal Kumar, CIT-DR
Section 143(3)Section 14ASection 250Section 35DSection 36(1)(via)Section 36(1)(viia)Section 43B

…low deduction towards the market value on the date of exercise and the market price on the date of grant of option. The ld. AR in this regard placed reliance on the decision of the Special Bench of Bangalore Tribunal in the case of Biocon Ltd. vs. PCIT [2014] 144 ITD 21 (SB). 19. We heard the parties and perused the material on record. The claim now made by the assessee before us is an incremental claim towards the ESOP cost which was not claimed while filing the return of income. With regard to the claim of the assessee, we notice that the Special Bench in the Biocon Ltd. (supra) has considered a similar issue a…

Indusind Bank Ltd, Mumbai vs. The DCIT-2(3)(1), Mumbai

In the result, the Income Tax Appeal is

ITA 1842/MUM/2023[2019-20]Status: DisposedITAT Mumbai17 Jul 2025AY 2019-20

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

Section 143(3)Section 14ASection 250Section 35DSection 36(1)(via)Section 36(1)(viia)Section 43B

…low deduction towards the market value on the date of exercise and the market price on the date of grant of option. The ld. AR in this regard placed reliance on the decision of the Special Bench of Bangalore Tribunal in the case of Biocon Ltd. vs. PCIT [2014] 144 ITD 21 (SB). 19. We heard the parties and perused the material on record. The claim now made by the assessee before us is an incremental claim towards the ESOP cost which was not claimed while filing the return of income. With regard to the claim of the assessee, we notice that the Special Bench in the Biocon Ltd. (supra) has considered a similar issue…

Anunta Technology Management Services Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle 4(1)(1), Mumbai

In the result, the appeal by the assessee is allowed

ITA 2407/MUM/2025[2020-21]Status: DisposedITAT Mumbai09 Jul 2025AY 2020-21

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhailanunta Technology Management Services Ltd., Level – 2, Block – 6, Nirlon Knowledge Park, Goregaon East, S.O. Mumbai ............... Appellant Mumbai - 400063 Pan : Aakca6159M V/S Dcit – 4(1)(1), ……………… Respondent Mumbai Assessee By : Shri K.K. Ved Revenue By : Shri Rajesh Kumar Yadav, Cit-Dr

For Appellant: Shri K.K. VedFor Respondent: Shri Rajesh Kumar Yadav, CIT-DR
Section 142(1)Section 143(2)Section 143(3)Section 144BSection 263Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Anunta Technology Management Services Ltd., Level – 2, Block – 6, Nirlon Knowledge Park, Goregaon East, S.O. Mumbai ............... Appellant Mumbai - 400063 PAN : AAKCA6159M v/s DCIT – 4(1)(1), ……………… Respondent Mumbai Assessee by : Shri K.K. Ved Revenue by : Shri Rajesh Kumar Yadav, CIT-DR Date of Hearing – 03/07/2025 Date of Order - 09/07/2025 O R D E R PER SANDEEP SINGH KARHAIL, J.M. The assessee has filed the present appeal against the impugned order da…

DCIT-2(3)(1), Mumbai vs. Kotatk Mahindra Bank Ltd, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 5110/MUM/2024[2021-22]Status: DisposedITAT Mumbai11 Jun 2025AY 2021-22

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

…|आयकर अपीलीय न्यायाधिकरण न्यायपीठ, म ुंबई| IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT & SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER आयकर अपील सुं./ITA No. 4950/MUM/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./ITA No. 4946/MUM/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. v/s. Assessment Unit, Income 27 BKC, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government of India, Complex, Bandra, Ministry of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACK4409J Appella…

DCIT-2(3)(1), Mumbai vs. Kotak Mahindra Bank Ltd, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 5075/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Jun 2025AY 2020-21

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

…|आयकर अपीलीय न्यायाधिकरण न्यायपीठ, म ुंबई| IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT & SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER आयकर अपील सुं./ITA No. 4950/MUM/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./ITA No. 4946/MUM/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. v/s. Assessment Unit, Income 27 BKC, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government of India, Complex, Bandra, Ministry of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACK4409J Appella…

Kotak Mahindra Bank Limited, Mumbai vs. Assessment Unit, Income Tax Department, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 4950/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Jun 2025AY 2020-21

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

…|आयकर अपीलीय न्यायाधिकरण न्यायपीठ, म ुंबई| IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT & SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER आयकर अपील सुं./ITA No. 4950/MUM/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./ITA No. 4946/MUM/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. v/s. Assessment Unit, Income 27 BKC, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government of India, Complex, Bandra, Ministry of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACK4409J Appella…

Kotak Mahindra Bank Limited, Mumbai vs. Assessment Unit, Income Tax Department, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 4946/MUM/2024[2021-22]Status: DisposedITAT Mumbai11 Jun 2025AY 2021-22

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

…|आयकर अपीलीय न्यायाधिकरण न्यायपीठ, म ुंबई| IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VICE PRESIDENT & SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER आयकर अपील सुं./ITA No. 4950/MUM/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./ITA No. 4946/MUM/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. v/s. Assessment Unit, Income 27 BKC, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government of India, Complex, Bandra, Ministry of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACK4409J Appella…

Deputy Commissioner of Income Tax Central Circle-2(4) Mumbai, Mumbai vs. Avanse Financial Services Limited, Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 473/MUM/2025[2022-23]Status: DisposedITAT Mumbai28 May 2025AY 2022-23

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri. Pranav ShahFor Respondent: Shri. Ram Krishn Kedia, SR. DR
Section 143(2)Section 143(3)Section 250Section 3Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, AM AND MS. KAVITHA RAJAGOPAL, JM ITA Nos. 472 & 473/Mum/2025 (Assessment Year: 2021-22 & 2022-23) Dy. Commissioner of Income Tax, Avanse Financial Services Limited Central Circle, 2(4), Mumbai 01 and 002, Fulcrum, A Wing, Room No. 802, 8th Floor, Old CGO Ground Floor Fulcrum, A Wing, Vs. Annex Bldg., M. K. Road, Mumbai – Sahar P & T Colony S.O. Sahargaon 400020. B.O. Mumbai – 400099. PAN/GIR No. AAACA4267A (Appellant) : (Respondent) Assessee by : Shri. Pranav Shah Respondent by : Shri. Ram Krishn Kedia, SR. DR. Date of Hearing : 0…

Dy. Commissioner of Income Tax Central Circle-2(4), Mumbai vs. Avanse Financial Services Limited, Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 472/MUM/2025[2021]Status: DisposedITAT Mumbai28 May 2025

Bench: Shri Om Prakash Kant, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri. Pranav ShahFor Respondent: Shri. Ram Krishn Kedia, SR. DR
Section 143(2)Section 143(3)Section 250Section 3Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, AM AND MS. KAVITHA RAJAGOPAL, JM ITA Nos. 472 & 473/Mum/2025 (Assessment Year: 2021-22 & 2022-23) Dy. Commissioner of Income Tax, Avanse Financial Services Limited Central Circle, 2(4), Mumbai 01 and 002, Fulcrum, A Wing, Room No. 802, 8th Floor, Old CGO Ground Floor Fulcrum, A Wing, Vs. Annex Bldg., M. K. Road, Mumbai – Sahar P & T Colony S.O. Sahargaon 400020. B.O. Mumbai – 400099. PAN/GIR No. AAACA4267A (Appellant) : (Respondent) Assessee by : Shri. Pranav Shah Respondent by : Shri. Ram Krishn Kedia, SR. DR. Date of Hearing : 0…

Grasim Industries Ltd., Mumbai vs. DCIT Cent. Cir. 1(4), Mumbai

In the result, appeal of the Revenue is partly allowed for statistical purpose

ITA 2224/MUM/2016[2009-10]Status: DisposedITAT Mumbai23 May 2025AY 2009-10

Bench: Shri Saktijit Dey, Vp & Shri N.K. Billaiya, Am M/S Grasim Industries Ltd. Dcit, (Corporate Finance Division) Central Circle 1(4), A-2, Aditya Birla Centre, Vs. Room No. 902, S.K. Ahire Marg, Worli, Old Cgo Building, Mumbai - 400030 Mumbai-400020 (Appellant) : (Respondent) Pan No. Aaacg 4464B Dcit, M/S Grasim Industries Ltd. Central Circle 1(4), (Corporate Finance Division) Room No. 902, A-2, Aditya Birla Centre, Old Cgo Building, Vs. S.K. Ahire Marg, Worli, Mumbai-400020 Mumbai - 400030 Appellant By : Shri J.D. Mistri, Sr. Advocate, Shri Madhur Agarwal & Respondent By : Shri Dr. Kishor Dhule, Cit(Dr) (Appellant) (Respondent)

For Appellant: Shri J.D. Mistri, Sr. AdvocateFor Respondent: Shri Dr. Kishor Dhule, CIT(DR)
Section 37(1)Section 40Section 80I

…` IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VP AND SHRI N.K. BILLAIYA, AM M/s Grasim Industries Ltd. DCIT, (Corporate Finance Division) Central Circle 1(4), A-2, Aditya Birla Centre, Vs. Room No. 902, S.K. Ahire Marg, Worli, Old CGO Building, Mumbai - 400030 Mumbai-400020 (Appellant) : (Respondent) PAN NO. AAACG 4464B DCIT, M/s Grasim Industries Ltd. Central Circle 1(4), (Corporate Finance Division) Room No. 902, A-2, Aditya Birla Centre, Old CGO Building, Vs. S.K. Ahire Marg, Worli, Mumbai-400020 Mumbai - 400030 Appellant by : Shri J.D. Mistri, Sr. Advocate, Shri Madhur Ag…

DCIT-14(1)(1), Mumbai vs. L and T Infrastructure Finance Co. Ltd, Mumbai

In the result, the appeals of the Revenue in ITA

ITA 1666/MUM/2024[2020-21]Status: DisposedITAT Mumbai24 Mar 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Alpesh Dharod,ARFor Respondent: Dr. K.R. Subhash (CIT-DR)
Section 10(34)Section 143(3)Section 14A

…IN THE INCOME-TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 3568/MUM/2023 (A.Y. 2017-18) ITA No. 1666/MUM/2024 (A.Y. 2020-21) Deputy Commissioner of v/s. L&T Infrastructure Company Income Tax, Circle बनाम Finance Limited, Plot No. 177, 14(1)(1), Mumbai, Room No. Brindavan, C.S.T. Road, 432, 4th Floor, Aayakar Kalina, Santacruz (West), Bhawan, M.K. Road, Mumbai – 400 098, 400 020, Maharashtra Maharashtra Appellant/अपीलार्थी .. Respondent/प्रतिवादी स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABCL2283L प्रत्याक्षेपसं../C.O…

DCIT-14.1.1, Mumbai vs. L and T Infrastructure Finance Company Limited, Mumbai

In the result, the appeals of the Revenue in ITA

ITA 3568/MUM/2023[2017-18]Status: DisposedITAT Mumbai24 Mar 2025AY 2017-18

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Alpesh Dharod,ARFor Respondent: Dr. K.R. Subhash (CIT-DR)
Section 10(34)Section 143(3)Section 14A

…IN THE INCOME-TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 3568/MUM/2023 (A.Y. 2017-18) ITA No. 1666/MUM/2024 (A.Y. 2020-21) Deputy Commissioner of v/s. Income Tax, Circle 14(1)(1), Mumbai, Room No. 432, 4th Floor, Aayakar Bhawan, M.K. Road, Mumbai 400 020, Maharashtra Appellant/अपीलार्थी .. Respondent/प्रतिवादी L&T Infrastructure Company Finance Limited, Plot No. 177, Brindavan, C.S.T. Road, Kalina, Santacruz (West), Mumbai 400 098, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABCL2283L प्रत्याक्षेपसं../C.O…

Strides Pharma Science Limited, Mumbai vs. Income Tax Officer, 15(3)(2), Mumbai

In the result, the appeal of the assessee is partly allowed

ITA 5721/MUM/2024[2020-21]Status: DisposedITAT Mumbai20 Mar 2025AY 2020-21

Bench: Shri Amit Shukla & Smt. Renu Jauhriआयकर अपील सं./Ita No.5721/Mum/2024 (निर्धारण वर्ष / Assessment Year :2020-21) Strides Pharma Science Limited V/S. Ito 15(3)(2), बनाम Aayakar Bhavan, New 201, Devavrata, Sector-17, Marine Lines, Mumbai-400020 Vashi, Navi Mumbai, Maharashtra-400703 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Blrs03808A .. Appellant/अपीलार्थी Respondent/प्रतिवादी निर्धारिती की ओर से /Assessee By: Shri Nishit Gandhi राजस्व की ओर से /Revenue By: Mr. R. A. Dhyani सुनवाई की तारीख / Date Of Hearing 16.01.2025 20.03.2025 घोषणा की तारीख/Date Of Pronouncement आदेश / Order Per Renu Jauhri [A.M.] :- This Appeal Is Filed By The Assessee Against The Order Of The Learned Commissioner Of Income-Tax (Appeals), Mumbai/National Faceless Appeal Centre, Delhi [Hereinafter Referred To As “Cit(A)”] Dated 06.09.2024 Passed U/S.250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As “Act”] For

For Appellant: Shri Nishit GandhiFor Respondent: Mr. R. A. Dhyani
Section 143(3)Section 144Section 14ASection 250Section 35Section 37(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SMT. RENU JAUHRI, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.5721/MUM/2024 (निर्धारण वर्ष / Assessment Year :2020-21) Strides Pharma Science Limited v/s. ITO 15(3)(2), बनाम Aayakar Bhavan, New 201, Devavrata, Sector-17, Marine Lines, Mumbai-400020 Vashi, Navi Mumbai, Maharashtra-400703 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: BLRS03808A .. Appellant/अपीलार्थी Respondent/प्रतिवादी निर्धारिती की ओर से /Assessee by: Shri Nishit Gandhi राजस्व की ओर से /Revenue by: Mr. R. A. Dhyani सुनवाई की तारीख / Date of Hearing 16.01.2025 2…

JCIT(OSD)-14(1)(1), Mumbai vs. Avendus Capital Pvt. Ltd., Mumbai

Appeal is allowed

ITA 404/MUM/2025[2020-21]Status: DisposedITAT Mumbai06 Mar 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2020-21 Jcit (Osd)-14(1)(1), M/S Avendus Capital Pvt. Ltd., Room No. 432, 4Th Floor, 901, Platina, 9Th Floor, Plot No. Vs. Aayakar Bhavan, M.K. Road, C59, Bandra Kurla Complex, Mumbai-400020. Bandra East, Mumbai-400051. Pan No.Aabcc 2404 Q Appellant Respondent

For Appellant: Mr. Ashish Mehta &For Respondent: Dr. K.R. Subhash, CIT-DR
Section 14ASection 37(1)

…y. 3.4 The assessee referred to the decision of th The assessee referred to the decision of the Hon’ble special e Hon’ble special bench of the Income- -tax Appellate Tribunal in the case of ppellate Tribunal in the case of Biocone Limited Vs DCIT DCIT (2013) 144 ITD 21 and submitted and submitted while undertaking to issue shares at discounted premium, the company undertaking to issue shares at discounted premium, the company undertaking to issue shares at discounted premium, the company does not pay anything to its employees but incurs obligation of does not pay anything to its employees but incurs obligation o…

ACIT-2(3)(1), Mumbai vs. Hdfc Bank Ltd ( Merged Entity Hdfc Investments Limited ), Mumbai

ITA 2980/MUM/2024[2014-15]Status: DisposedITAT Mumbai28 Jan 2025AY 2014-15

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate a

…/Mum/2005, dated 05.07.2024 (undersigned Accountant Member being its author) wherein claim of the assessee has been allowed after considering the judicial precedents listed below: i. CIT vs. Biocon Ltd. 430 ITR 151 (Kar.) ii. Biocon Ltd. vs. DCIT [2013] 144 ITD 21 (Bang) (SB) iii. PVR Ltd. vs. CIT [2022] 145 taxmann.com 331 (Del) 12. 3. In view of the above, there being no material change in the facts and applicable law, ground taken by the assessee is allowed. V. Computation of amount eligible for deduction u/s.80M of the Act. 13. This issue arises in the following appeals: Assessment year G…

Hdfc Bank Limited (As Successor to Hdfc Ltd), Mumbai vs. DCIT 2(3)(1), Mumbai

ITA 2665/MUM/2024[2015-16]Status: DisposedITAT Mumbai28 Jan 2025AY 2015-16

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

Section 143(3)

…24/Mum/2005, dated 05.07.2024 (undersigned Accountant Member being its author) wherein claim of the assessee has been allowed after considering the judicial precedents listed below: i. CIT vs. Biocon Ltd. 430 ITR 151 (Kar.) ii. Biocon Ltd. vs. DCIT [2013] 144 ITD 21 (Bang) (SB) iii. PVR Ltd. vs. CIT [2022] 145 taxmann.com 331 (Del) 12. 3. In view of the above, there being no material change in the facts and applicable law, ground taken by the assessee is allowed. V. Computation of amount eligible for deduction u/s.80M of the Act. 13. This issue arises in the following appeals: Assessment year | Groun…

ACIT-2(3)(1), Mumbai vs. Hdfc Bank Limited (Merged Entity Housing Development Finance Corporation Limited), Mumbai

In the result, appeals of both, assessee and revenue are decided

ITA 2597/MUM/2024[2020-21]Status: DisposedITAT Mumbai28 Jan 2025AY 2020-21

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

For Appellant: Shri Nitesh Joshi, Advocate and
Section 1

…24/Mum/2005, dated 05.07.2024 (undersigned Accountant Member being its author) wherein claim of the assessee has been allowed after considering the judicial precedents listed below: i. CIT vs. Biocon Ltd. 430 ITR 151 (Kar.) i. Biocon Ltd. vs. DCIT [2013] 144 ITD 21 (Bang) (SB) iii. PVR Ltd. vs. CIT [2022] 145 taxmann.com 331 (Del) 12. 3. In view of the above, there being no material change in the facts and applicable law, ground taken by the assessee is allowed. V. Computation of amount eligible for deduction u/s.80M of the Act. 13. This issue arises in the following appeals: Assessment year Gro…

ACIT-1(1)(1), Mumbai vs. M/S. Housing Development Finance Corporation Ltd., Delhi

ITA 2049/MUM/2023[2016-17]Status: DisposedITAT Mumbai28 Jan 2025AY 2016-17

Bench: Shri Anikesh Banerjee & Shri Girish Agrawal

…nd 724/Mum/2005, dated 05.07.2024 (undersigned Accountant Member being its author) wherein claim of the assessee has been allowed after considering the judicial precedents listed below: i. CIT vs. Biocon Ltd. 430 ITR 151 (Kar.) ii. Biocon Ltd. vs. DCIT [2013] 144 ITD 21 (Bang) (SB) iii. PVR Ltd. vs. CIT [2022] 145 taxmann.com 331 (Del) 12.3. In view of the above, there being no material change in the facts and applicable law, ground taken by the assessee is allowed. V. Computation of amount eligible for deduction u/s. 80M of the Act. 13. This issue arises in the following appeals: Assessment year Ground No. in A…